Cardiff will not proceed with plans to change their badge or home colours following strong opposition from supporters. Proposals concerning the "significant rebranding" of the Championship club came to light this week, with City's Malaysian owners understood to be considering switching the home strip from its traditional blue to red and incorporating the Welsh national symbol of a red dragon into the crest.

A statement on the Cardiff official website from the chairman Dato Chan Tien Ghee read: "The new club crest and home colours which were being discussed were intended to demonstrate the symbolic fusion of Welsh and Asian cultures through the use of the colour red and the predominant featuring of a historical Welsh dragon under the Cardiff City FC name," the statement read.

"This would have been a springboard for the successful commercialisation and promotion of the club and its brand, driving international revenues and allowing us to fund transfers and success locally, thereby giving the club the best chance of competing at the higher reaches of competition.

"This was not meant as a slight in any way shape or form on the club's traditions or history which we recognise are the lifeblood of any club.

"It was intended as a positive change to allow us to adapt and embrace the future. Notwithstanding a number of rumours there were no further plans to turn the stadium red or make other radical changes.

"In the light of the vociferous opposition by a number of the fans to the proposals being considered as expressed directly to our local management and through various media and other outlets, we will not proceed with the proposed change of colour and logo and the team will continue to play in blue at home for the next season with the current badge." Another radical move mooted was a change of name for the club, but Chan offered a firm rebuttal to these suggestions.

"I can categorically state that there were never any plans to rename the club," he said.

"Cardiff City Football Club has a rich history, which we are honoured to celebrate and share locally, nationally and internationally."

Chan insists changes are needed in the immediate future to redress a troubling financial outlook and allow Cardiff to pursue their ambition of promotion to the Premier League.

He added: "It is clear to all concerned that the club simply cannot continue to function and exist in its current state, effectively losing large amounts of money each month, while acquiring more and more debt.

"We have continued along this path until the end of the current season, but the club inevitably now faces bold and real world decisions should we want to see the club survive. As romantic and simplistic a notion as it may seem, maintaining our current course without growth or change, is not, and cannot be, an option."

Cardiff slumped to a 5-0 aggregate defeat against West Ham United in their Championship play-off semi-final on Monday, their third successive failure in the end-of-season competition.